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Godrej Consumer Products (GCPL) today said it is interested in buying the international household products business of US-based Sara Lee to expand globally.
FMCG firm Godrej Consumer Products is looking at several acquisition opportunities globally and has earmarked a budget of Rs 1,000 crore for the purpose.
Indian company has first right of refusal to buy partner’s stake.
FMCG major Dabur has alleged that US-based company Aveda, which manufactures and sells Ayurvedic cosmetic products, is infringing on the trademark of its skincare range.
Even as day three of the computer-based Common Admission Test (CAT) continued to add to the anxiety of the student community, academicians have shifted the blame game from Prometric to the Indian Institutes of Management (IIMs) and NIIT, accusing them of adopting a highly casual attitude. Prometric bagged the contract from IIMs to conduct computer-based CAT this year in partnership with NIIT. “The IIMs could have done more than just outsourcing the exams to Prometric. By blaming Promertic, IIMs can’t acquit themselves. If one-sixth of the 304 test labs fail, it’s an absolute joke of an examination. A little control on part of the IIMs could have helped,” said a professor from a B-school which accepts CAT scores for admissions.
Public sector lender Dena Bank today said it has reported a marginal growth in net profit at Rs 111.17 crore for the fourth quarter ended March 31, 2009.
Public sector Bank of Baroda (BoB) today said its consolidated net profit jumped 54 per cent to Rs 2,384.08 crore in the financial year ended March 31.
DB Corp, the publisher of Dainik Bhaskar, which is planning to enter new markets, would tap the capital market next week to raise around Rs 450 crore through an initial public offer.
The Indian Air Force’s Sukhoi-30MKI fighter is a beast that is tamed only by technology. The aircraft’s giant AL-31FP turbofan engines, which allow manoeuvres that no other fighter can dream of, are monitored by its pilots on high-tech computer screens called multi-function displays, or MFDs. A quick glance across the MFDs also provides information about on-board weapons and sensors, telling the pilots everything about how the aircraft is flying and fighting.
Arvind Singhal / New Delhi December 17, 2009, 0:02 IST
Ruias-controlled Essar Oil (EOL) is looking to seal a deal with Royal Dutch Shell at $1-1.2 billion (between Rs 4,670 and 5,600 crore) for acquiring the global petroleum giant’s three refineries in Europe. EOL has presented its valuation of assets to the Shell management and the negotiations are on verge of completion, said banking sources close to the development.
Oilmeal exports from India are falling due to higher prices and low quality compared to those from the US, Brazil and Argentina, which are offering better quality of soybean and rapeseed at lower prices. Exports are expected to come down by 15-20 lakh tonnes during 2009-10.
The markets have rebounded into the positive zone owing to fresh buying. The Sensex is now up eight points at 16,927. The Nifty is up two points at 5,045.
Based on the market feedback, both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) have decided to postpone the implementation of new markets timings by more than a fortnight.
With the government deciding to set up 14 innovation universities, HRD Minister Kapil Sibal today expressed keeness to forge an alliance with leading US varsities in shaping the structure of the proposed institutes.
In the backdrop of a spate of racial attacks in Australia, Down Under could witness about a 50 per cent drop in Indian students in the next session, according to an international educational recruiter.
Union minister for human resources development Kapil Sibal on Monday said the university education system in India was set for a major change to promote the habit of research on their own. Congratulating winners of the Infosys Prize 2009 instituted by Infosys Foundation via video conferencing from Delhi, Sibal said the government was taking steps to maintain independence of the universities so that they could not be ‘controlled remotely by any one’.
Kingfisher Airlines, owned by the UB Group, is planning to raise up to Rs 500 crore through issue of further share capital.
Cash-strapped Air India is focussing on cost reduction of Rs 1,500 crore and revenue enhancement of Rs 1,200 crore as per its turnaround plan and the government would infuse equity into the airline in the next few years, the Rajya Sabha was informed today.
The future for the IT industry appears bright and the sector is likely to post double digit growth next year, industry veteran S Ramadorai said here today.
It surely took a long time coming, but now that it has, it’s got top clearance from us. Ladies and gentlemen, say hello to our Bike Of The Year 2010 — the Kawasaki Ninja 250R! While there was an impressive list of opponents to the Ninja, none of them could handle going toe-to-toe with the Japanese warrior. And it wasn’t just its bright green colour either. But more on the Ninja later; let’s see who it was up against, shall we?
Motorcycle manufacturer and part of Eicher Motors, Royal Enfield, would invest Rs 60-80 crore to double the capacity of its Chennai plant to 100,000 units by 2013.
Chennai-based auto maker TVS Motor Company today said it will showcase a range of vehicles, including different hybrid models, at the 10th Auto Expo starting here from January 5, 2010.
The last Auto Expo in January 2008 in New Delhi drew 1.8 million visitors. The 2010 edition scheduled at Pragati Maidan here, from January 5-11, is expected to draw close to 2 million visitors, which would make it the largest auto show in the world.
The commerce ministry has prohibited import of mobile phone handsets (classified under ITC (HS) Code ‘8517’) without International Mobile Equipment Identity (IMEI) number or with all zeroes’ IMEI, with immediate effect from October 14, 2009. Import of ‘CDMA mobile phones’ (classified under ITC (HS) Code ‘8517’) without Electronic Serial Number (ESN)/Mobile Equipment Identifier (MEID) or with all zeroes as ESN/MEID is also prohibited with immediate effect from the same date.
The Centre will be cautious in withdrawing the fiscal stimulus packages given to key-sectors and will do so only after ensuring growth is sustainable in the economy, Union Minister for Commerce and Industry Anand Sharma said.
Indian Cellular Association (ICA) has demanded counterfeit mobile handsets with cloned International Mobile Equipment Identity (IMEI) numbers of other genuine handsets be banned in the country.
Auto component maker, Shriram Pistons & Rings is planning to invest Rs 225 crore for setting up a new manufacturing facility at Pathredi, Rajasthan.
Jeffrey Owens is the director of tax planning and administration at the OECD’s Centre for Tax Policy, which is responsible for framing tax principles and ensuring that tax havens fall in line on disclosure norms and share information. He spoke to Sidhartha on recent developments and the strategy India should adopt on double taxation avoidance treaties. Excerpts:
A year after India ushered in reforms in 1991, C Rangarajan, then a member of the Planning Commission, was picked by then Finance Minister Manmohan Singh to steer Reserve Bank of India for five crucial years till 1997. Then, Rangarajan, who had taught in University of Pennsylvania and management institutes in India, headed the Twelfth Finance Commission, which paved the way for fiscal consolidation, and also the Prime Minister’s Economic Advisory Council (and was, for five years, Governor of Andhra). In an interview with Sapna Dogra Singh and John Samuel Raja D, he says there are some encouraging signs in the economy, but the real recovery will come only in 2010-11.
The mutual fund industry has come for some serious criticism in the recent past. The reason: It has completely missed the stock market rally that started from early March and has given returns of over 70 per cent to investors. Madhusudan Kela, head (equities), Reliance Mutual Fund, which has the highest average assets under management and investor base, speaks to Palak Shah and explains why fund houses are being judged unfairly. Excerpts:
A better product mix, easing of cost pressures and better procurement helped consumer electronics and lightings manufacturer, Bajaj Electricals register a consolidated net profit increase of 64 per cent per cent for the quarter ended June 30, 2009, to Rs 16.4 crore, compared with Rs 10 crore in the corresponding quarter of the previous financial year.
The country"s largest sugar manufacturing firm, Bajaj Hindusthan, today said its shareholders will meet on December 16 to consider and approve raising of Rs 2,000 crore from domestic and international markets.
Gold prices rose sharply at the bullion market here today due to fresh buying from stockists and retailers following a firm trend in global markets.
Ajay Modi / New Delhi September 17, 2009, 0:39 IST
There won’t be any earnings upgrades for India Inc till it starts investing; and firms aren’t going to invest until they see firm signs of a global recovery, perhaps when fourth quarter US numbers are out. This, in a nutshell, is the view of JPMorgan’s head of economic research. Prior to this, Jahangir Aziz has done a stint as principal economic advisor in the ministry of finance — he’s also headed the China desk at the IMF. Excerpts from a conversation with Shobhana Subramanian:
Fashion and lifestyle brand retailer DLF Brands will launch the DKNY brand in the Indian market this month.
Shedding earlier reservations over some aspects of the controversial new FDI guidelines, the Finance Ministry now says it does not have any objection to new rules that changed the criteria for calculation of foreign ownership in a company and its downstream investment.
India may be the world"s second fastest growing economy but when it comes to man-woman equality the country figures among the worst performers at 114th among 134 countries on the World Economic Forum rankings.
Hiring activity particularly in the manufacturing and infrastructure sectors is expected to pick up in the third quarter of this fiscal on the back of the country"s economy showing signs of recovery, a top official of online recruitment portal Naukri.Com said.
India"s fiscal deficit touched 40 per cent of the full-year estimate in the first four months of FY10, kindling fears that expenses will exceed income beyond what was projected earlier.
This follows a renewed effort by CBDT to seek clarification on the issue.
A Parliamentary Panel has asked the government to allocate 138 coal blocks to state-run Coal India (CIL) to help it meet production targets for the current and the next plan period and bridge demand-supply gap.
The interim pension regulator, Pension Fund Regulatory and Development Authority (PFRDA), today said it has sought funds from the Finance Ministry for spreading awareness about retirement savings and a provision for the same is expected in the upcoming Budget.
Cases aimed at stopping approval of new generics
The country’s merchandise exports continued their southward march, falling 6.6 per cent to $13.19 billion (over Rs 61,500 crore) in October, against $14.1 billion (Rs 65,775 crore) in the same month last year, when it declined by more than 12 per cent over 2007-08.
The Sensex continues to display firm movement after a positive start this morning. The index so far has touched a highh of 17,055, and is now up 169 points 17,018.
Fashion and lifestyle retail chain Shoppers Stop today said its board of directors has approved raising funds by allotting 40 lakh shares to qualified institutional buyers.
South Korea will host a world financial meeting ahead of a G-20 summit later this year as part of its efforts to help promote global financial stability, the country"s financial regulator has said.
The Ambani brothers may be at war with each other in real life, but that hasn’t stopped them from collaborating in reel life. The Aamir Khan starrer 3 Idiots, a Reliance Big Pictures release (an Anil Ambani enterprise), starts off thanking Mukesh Ambani for giving it permission to shoot at the IIM Bangalore campus — Mukesh Ambani is the chairman of IIM Bangalore.
Anil Dhirubhai Ambani Group firm Reliance Life Insurance today launched two new products -- Jan Samriddhi Plan and Super InvestAssure Plan here and aims to garner Rs 600 crore premium from them within this fiscal.
Dish TV’s board of directors, at its meeting held today, approved the pricing of the Global Depository Receipt (GDR) issue. The issue price of $854.50 per GDR, representing 1,000 underlying company shares of Re 1 each.
At the launch of Arvind Virmani’s book on Wednesday, Finance Minister Pranab Mukherjee said he was intrigued by the book’s title, The Sudoku of India’s Growth. He said he’d have thought that his chief economic advisor would not think India’s growth surge was a puzzle and that he would actually know what had driven the growth. Having got everyone laughing, Mukherjee said that though he had not read the book in any great detail, his interaction with Virmani had convinced him that though the growth may have puzzled many, Virmani actually had the key to the puzzle. Suman Bery of NCAER said meanwhile that the appropriate metaphor was not Sudoku but Rubik’s Cube.
Kishore Biyani to revamp existing print media business, introduce tailor-made packages for TV advertisers
Delhi-based HCL Technologies expects to sign around five deals in the media and entertainment (M&E) space. Talks are on with four global companies and one Indian firm, and HCL plans to close these deals by the end of this year. Most deals will be in the range between $50 million and $200 million (Rs 240-950 crore).
Tata Teleservices, Reliance Communications and other private mobile telecom operators owe over Rs 603 crore to the government towards outstanding spectrum charges and licence fee for the last three years.
The government today asserted in the Supreme Court that any suitable arrangement between the Ambani brothers for the supply of gas from K G Basin has to be approved by it keeping the national interest paramount.
Chinese firm Meijin leads the bidding war with $176-mn offer.
Move to be part of a global expansion plan
Internet job portal Monster.com and direct-to-home company Dish TV have collaborated to offer an interactive jobs search service "MonsterJobs Active" for Dish TV subscribers, which would allow job seekers to search for jobs across the country.
The management of Tata Group-owned Jaguar Land Rover has offered a one-time payment of £200 to those of its salaried employees who are willing to push their salary receiving date by 15 days, starting from August this year. This is part of the car maker’s plans to manage its cash flow problems, pending fresh flow of funds from banks to manage its operations more smoothly.
Public sector Canara Bank, as part of fulfilling its corporate social responsibility (CSR) is in the process of imparting training to rural youth to enable them to acquire jobs in various disciples.
Steel Authority of India Ltd (SAIL), the country"s second largest producer, reported Rs 1,676 crore net profit for the quarter ended December 31, nearly double the Rs 843 crore in the corresponding quarter of the previous year, at the back of rising demand from auto and construction sectors.
India Inc is likely to face a huge "talent deficit" in the coming years, as the country is not producing enough people equipped with the right skills required for the globalised environment, global consultancy Deloitte says.
S Tel, a joint venture between the Siva group and Bahrain Telecom, today said it will launch mobile services in a few circles by this year-end and announced tying up funds to the tune of Rs 2,000 crore for the purpose.
In an attempt to revive loss-making telecom equipment manufacturer ITI, the government today approved a proposal under which the company will continue to get orders for 30 per cent of products requirement of BSNL and MTNL in reservation quota.
The Cabinet is expected to clear tomorrow the proposal to grant the coveted "Maharatna status" to public sector blue-chips like ONGC, SAIL, BSNL, NTPC and CIL giving them increased autonomy.
The Ministry of Road Transport and Highways and the International Road Federation (IRF) find the social networking site twitter.com an innovative medium to bring down road fatalities.
Surajeet Das Gupta & Mansi Taneja / New Delhi December 15, 2009, 0:25 IST
The Customised Connectivity Tracking tool can be installed in the catchment area of a cable network and track frequencies.
Retail participants have provided relief to private equity (PE) players raising funds.
According to him, GSS dominates the domestic market with over 70 per cent share and has a footprint in 40 countries including the US and the European countries.
The Planning Commission has approved the Rs 300 crore Rukura medium irrigation project (MIP) in Sundergarh district of Orissa.
India is not facing any shortage in onion supplies and prices of the key vegetable have now started easing, Minister of Commerce and Industry Anand Sharma said in the Lok Sabha today, replying to a member"s query.
The government is likely to take a decision soon on granting the "Maharatna" status to a few central public sector enterprises, which may include PSU heavyweights like ONGC, SAIL, BSNL, NTPC and CIL.
Sea Trans Marine Private Ltd, a Kolkata-based shipping agency has filed a case in an international court in London against the owner and management company of the vessel Black Rose, which capsized near Paradeep port a month back.
Y S Jaganmohan Reddy, whose supporters have been campaigning for making him the Chief Minister, today met Congress President Sonia Gandhi, who told him to leave the issue of leadership change in Andhra Pradesh to her.
After much dilly-dallying, the ‘Passport Seva Project’, which aims at expediting the process of issuance of passport by digitising the passport services, would be rolled out by early 2010.
A three-member team of United States Securities and Exchange Commission (SEC), America"s federal agency to regulate the securities industry in that country, exchanged information with the CBI probing into the multi-crore accounting scam at Satyam Computer here.
The state-owned insurance giant Life Insurance Corporation of India (LIC) and private sector insurer HDFC Standard Life missed out on rural sector obligations during 2008-09. While two non-life insurers, Bharti Axa General Insurance and Apollo DKV, did not meet both the rural as well as the social sector obligations during the last financial year.
The Union government and the government of Andhra Pradesh signed a memorandum of agreement (MoA) on Thursday for the establishment of Petroleum, Chemicals & Petrochemical Investment Region (PCPIR) in the state between Visakhapatnam and Kakinada.
Ch Prashanth Reddy / September 27, 2009, 0:07 IST
To overcome the difficulties and challenges faced in smooth and timely movement of mails and parcels across North-East due the region’s hilly and thickly forested routes, the department of post (DoP) has decided to install Global Positioning Systems (GPS) to track the movements of its mail motor vehicles in the region.
Process already stuck for a year on Chinese bidder concerns.
Both Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) are set to miss the mobile number portability (MNP) deadline of December 31.
The government today ruled out appointing an ombudsman to redress the complaints of poor mobile telephony services, like call drops, saying state-run BSNL and MTNL were taking effective steps to upgrade technology.
Asian markets ended mixed today. The Hang Seng added 122 points to 20,244. The Nikkei was up seven points at 10,205.
Shyamal Majumdar / Mumbai November 12, 2009, 0:24 IST
Wind power turbine maker Suzlon Energy today said it has bagged an order from Rajasthan State Mines and Minerals for suppling 15 units of wind turbines to be installed at the Tejuva site in Jaisalmer, for an undisclosed amount.
Subir Roy / New Delhi December 9, 2009, 0:20 IST
Suzlon Energy unit REpower today said it has bagged an order to supply up to 954 MW wind turbines for five projects in Canada.
The Sensex after rebounding into green touched a high of 17,226, and is now up 77 points at 17,196. The NSE Nifty is up 15 points at 5,132.
The markets have firmed up after a soft start this morning. The Sensex opened a point lower at 17,118, and soon touched a low of 17,089 owing to weak cues from the global markets.
Markets have continued to gain. The Sensex is at the day"s high of 15,418, up 183 points. The Nifty is at 4,572 - down only six points from the day"s high. The index is up 48 points from the previous close.
Mahindra Satyam has topped the combined value chart with a turnover of Rs 1,076 crore. It is followed by Suzlon( Rs 954 crore), Reliance (Rs 886 crore), ICICI Bank (Rs 757 crore) and DLF (Rs 676 crore).
Country"s largest lender State Bank of India"s (SBI) pension corpus could be regulated by the Pension Fund Regulatory and Development Authority (PFRDA), opening a new area for the interim regulator.
If you thought a job is something people are dying to hold on to when the going in the market is tough, you couldn"t be more wrong as a survey has found that more than half are ready to quit work, switch professions or take a break.
Progress on infrastructure, real estate and power projects will determine value creation in the long run.
Mahesh Vyas / New Delhi January 2, 2010, 0:54 IST
Apprehending Mumbai-type terrorist attack in various parts of India, the US today alerted its citizens to be cautious during their visit to that country and asked them to defer their travel to Andhra Pradesh as violence continues over issue of separate Telangana state.
The third edition of the Indian Premier League (IPL) will begin on March 12 in Hyderabad with the final to be held at D Y Patil Stadium in Navi Mumbai on April 25, the BCCI announced here today.
Business Standard / New Delhi January 1, 2010, 0:17 IST
The Indian Air Force today began the flight evaluation and performance trials for the six foreign defence firms which are in race to bag an estimated $10 billion order for 126 Medium Multi Range Combat Aircraft.
Gaganjeet Bhullar wants to be the number one golfer in India, and is taking giant strides towards achieving his aim.
Pyramid Saimira Theatre, which is engaged in entertainment business, today said it will raise Rs 500 crore by offering securities to foreign investors, qualified institutional buyers and promoters.
The Indian video games industry - minuscule compared to the evolved western markets - is poised to grow 49 per cent to touch $830 million by 2012, when the country"s overall animation market will scale $1 billion, says a report of software industry body Nasscom.
The West Bengal government had not sought return of the land at Singur from Tata Motors ‘formally’, said West Bengal commerce and industry minister Nirupam Sen, a day after Ratan Tata said the government had not approached for the land. Speaking on the sidelines of a seminar organized by Assocham in association with the Bengal Chamber of Commerce & Industry and Merchants’ Chamber of Commerce, Sen said, though the government had not formally asked for the land, the company had been informed about the Bhel proposal and later the Railways proposal. Sen said, unless the Railways submitted a formal proposal, the government would not ask for the land back. With Sen’s comments, it appears that Singur was once again in limbo, as Railways has made it clear that it would not visit the land as it belonged to Tata Motors.
SBI Caps heads global loan chart; power sector dominates.
Infosys BPO is likely to get a new Chief Executive Officer (CEO) by January 15, a top company official said.
Will spend $58 million to acquire McCamish Systems
Farm-to-fork model proves to be expensive, with prices higher than in neighbourhood stores.
China’s growth probably exceeded the economy’s speed limit in the fourth quarter, escalating pressure on Premier Wen Jiabao to withdraw stimulus measures even as the government seeks to strengthen domestic demand.
The government is likely to continue with its existing policies to ensure economic stability in the forthcoming Union Budget, a top banker said.
Finance Secretary Ashok Chawla today said the Reserve Bank of India"s (RBI) review policy has taken a balanced view of the current situation and the CRR hike would not have any affect either on interest rates or the industrial recovery.
T N Ninan / New Delhi November 28, 2009, 1:33 IST
The Reserve Bank of India (RBI) has done the right thing by hiking the Cash Reserve Ratio (CRR) by 0.75 per cent to 5.75 per cent, a top banker said.
After receiving a lukewarm response from non-resident Indians, in spite of its various investors’ meets in the US and UK, the state government will now try to find out reasons as to why NRIs have turned hostile towards making investment in the state. On January 9, 2010, the state government will hold a special session with NRIs in ‘Prawasi Bhartiya Diwas” in Delhi, not only to interact with them but also to know about their issues that hinder investment in Madhya Pradesh. Later it will organise a “Prawasi Bhartiya Sammelan” in Bhopal on January 12.
Most are for regional languages.
Steel magnate L N Mittal is today believed to have proposed setting up a Rs 30,000 crore integrated steel plant in Karnataka when he called on the southern state"s Chief Minister B S Yeddyyurappa.
The Telangana agitation over the Centre’s decision to create a new state in the region has forced several companies, including Bharat Forge, the Lakshmi Mittal Group and the NTPC-BHEL joint venture, to either put their expansion plans on hold or explore other states.
India has proposed bilateral dialogue with the US and EU on the issue of climate change on the lines of one it is set to hold with China later this month, Environment Minister Jairam Ramesh has said.
India has said that there is now better understanding of its position on climate change in the US, which recognises that emission cuts is not the only way for countries to reflect their domestic obligations globally.
Sunil Jain / New Delhi February 1, 2010, 1:24 IST
Realty stocks crashed on the Bombay Stock Exchange (BSE) today on fears of a debt crisis in Dubai raised by Middle East"s largest property firm Dubai World asking creditors if it could defer repaying $60 billion in loan until may next year.
The Indian School of Business (ISB) on Friday announced the setting up of a Centre for Case Development together with Richard Ivey School of Business (Ivey), University of Western Ontario, for developing Indian case studies.
Five consortia led by Reliance Infrastructure, L&T, ITD Cementation India, Pioneer Infratech and Lanco Infratech have been shortlisted for the $2-billion (Rs 9,270 crore) High Speed Rail Link (HSRL) in Bangalore.
Discussions on Goods and Services Tax inconclusive.
Extending its association with cricket, Emirates Airline, the official partner of International Cricket Council (ICC) and the title sponsor of Indian Premier League (IPL) team Kings XI Punjab, will now sponsor the Arabian Cricket Challenge, a Twenty20 format cricket tournament held in Dubai.
Jai Arjun Singh / New Delhi November 07, 2009, 0:35 IST
WORDS AT WORK
Self-deprecating humour isn’t something one sees too much of in this country (where making fun of others is held a nobler pursuit than laughing at one’s own foibles), so I’m always pleased to read Saad Akhtar’s webcomic Fly, You Fools! (People are Mindless Cattle), a good-natured, witty take on some of the things we read about in the newspapers every day. It isn’t brilliantly written or drawn (in fact, it mostly uses photos and mixed media rather than fresh illustrations) but it’s goofy and perceptive, casting fresh light on (among other things) security checks at mall entrances (http://tinyurl.com/5s25pe), rich kids mowing down pavement-dwellers in their Mercs (http://tinyurl.com/mhpwep), and loud honking at traffic signals as a substitute for sexual inadequacy (http://tinyurl.com/kl7knc).
Religare Enterprise is expanding is investment banking division. The financial services company has started an investment banking division to tap opportunities in emerging markets. This new division will be part of Religare Capital Markets Limited (RCML).
Once the dust settles over the arrest and release of UP Congress chief Rita Bahuguna Joshi, it is expected she will be replaced soon. Apart from the crassness of her remarks, the party feels that since B L Joshi has been appointed as the state’s governor, it would be a good idea to appoint an OBC as the party chief in the state.
PHD Chambers: No big-ticket reforms
The retail sector in Kolkata has adopted a wait and watch situation with retailers still wary of what lies ahead. What started as a big set-back for the retail industry in end-2008 with several malls and retailers shutting shop, the year 2009 was particularly bad for the industry with several cancellations of booked spaces and deferment of sanctioned projects.
The world"s largest software firm Microsoft today said it is sharpening its focus on the fast growing smartphones market and other wireless devices in India.
The budget may not mention the introduction of Goods and Services Tax (GST) from next fiscal as there are already voices expressing doubts about meeting the deadline.
The Meghalaya government has okayed the execution of the 500 MW thermal power project by the state-run North Eastern Electric Power Corporation Limited (NEEPCO).
Likely to drill three additional exploration wells in the block before the end of 2010.
The oldest brand in the non-salt biscuits segment is fighting back to regain market share
In line with the initiatives taken by some other state governments, the Orissa government is mulling over bringing in a separate legislation for control, utilisation and management of ground water in the state.
The government today said in the Lok Sabha that though there were no signs of recovery in the global economic scenario, the sharp fall in Indian exports seems to have been arrested.
A few days back, if you were at Mumbai’s Dadar Railway Station or at Delhi’s Rajiv Gandhi Chowk Metro Station, you could not have missed a man sprawled on a sofa with a cushion that read: “Reserved for Abhishek Bachchan classes”. Is Bachchan Jr preparing for an alternate career? Not really. This is on-ground activation aimed to create a buzz for the newest reality show on Colors, National Bingo Night. It will of course be anchored by Bachchan Jr.
Poor quality mobile services of state-run BSNL today came under sharp attack in the Lok Sabha, even as the government said it was the only operator which has taken maximum load for providing connectivity to rural areas.
Contribute a daily trading turnover of around 10 per cent.
Former Jharkhand Chief Minister Madhu Koda was today discharged from a city hospital and claimed he was "innocent" and was not involved in the Rs 2,000 crore hawala scam even as Income Tax officials prepared to question him in connection with the case.
Hinduja Group flagship company Ashok Leyland today reported a jump of 56.99 per cent in its commercial vehicle sales at 5,333 units in October as compared to the same month in 2008.
The All India Organisation of Chemists and Druggists (AIOCD) plans to have 20,000 pharma retail outlets in the organised sector under a common brand by February 2010, a top official said.
Union Minister of State Shashi Tharoor is now hitting at Left parties for politicising health issues and trying to "divert resources" meant for a mental health centre in Kerala.
A day after the path-breaking revelation by the international scientific community that India’s maiden mission to the moon, Chandrayaan-I, has succeeded in tracking the presence of water on the lunar surface, Indian Space Research Organisation (Isro) Chairman G Madhavan Nair said here on Friday that the mission was a 110 per cent success.
Despite the best efforts of Indian vaccine makers to develop the H1N1(swine flu) vaccine, Swiss drug major Novartis and Australian vaccine maker CSL may be the first ones to bag the orders from the central government for its supply.
Swiss drugmaker Novartis has begun injecting its swine flu vaccine into people in the company"s first human tests, a spokesman said today.
Piramal Healthcare today said its shareholders have approved the appointment of Nandini Piramal, daughter of Chairman Ajay Piramal, as the Executive Director on the board of the pharma company.
Zenotech Laboratories today said the Madras High Court has ordered Japanese drug firm Daiichi Sankyo not to go ahead with the planned open offer for an additional 20 per cent stake in the pharma firm.
Healthcare services provider Zydus Cadila has filed an application before the Drugs Controller General of India (DCGI) for its anti-diabetic drug.
To combat threats of climate change, India will soon unveil a detailed roadmap for a low-carbon growth strategy, Environment Minister Jairam Ramesh said today.
The Supreme Court today issued notices to the Centre, pharma major Cipla, Ranbaxy Lab, Hetero Drugs, Natco Pharma and others on a pettion filed by Swiss firm Novartis AG challenging the denial of patent for its blood cancer drug Glivec in beta crystal form.
The Telugu Desam Party (TDP) today asked the Andhra Pradesh government to review its policy on special economic zones (SEZ) and safeguard the interests of farmers and fishermen while implementing them.
India was the most promising market but obstacles could impede the speed at which India reached the full extent of the promise, said Sudhir Maheshwari, member of group management board responsible for corporate finance, M&A and business development (including India) and risk management of ArcelorMittal. Addressing the 47th National Metallurgists’ Day Celebration of the Indian Institute of Metals, Maheswari clarified, “We remain fully committed to our announced greenfield projects in Jharkhand and Orissa. We are looking for other alternatives of land acquisition to accelerate realisation of our plans.” ArcelorMittal’s two 12 million tonne steel plants in Jharkhand and Orissa were running behind schedule on account of problems with land acquisition.
Sayantani Kar / Mumbai October 20, 2009, 0:53 IST
Chennai-based electric scooter manufacturer Kabirdass Motor Company is planning to raise Rs 60 crore through an initial public offering to support its expansion plan and for setting up a manufacturing facility near here.
Hyderabad-based pharmaceutical major Dr Reddy’s Laboratories Ltd (DRL) more than doubled its net profit to Rs 217 crore during the July-September quarter compared to Rs 105 crore in the same period last year, its consolidated results announced today show.
Hyderabad-based pharmaceutical major, Dr Reddy’s Laboratories, forayed into the transdermal patch segment with the launch of Finrid – a medicated adhesive patch used in the management of severe to moderate pain – in the Indian market.
Declines to 9.35% in April-September from 17.23% in the same period of last year.
The country"s largest steel maker, Steel Authority of India (SAIL), today reported a 32 per cent growth in sales at 1.3 million tonnes in December 2009.
The German auto component major Bosch today said it developed a special diesel engine in partnership with Tata Motors, the makers of the Rs 1-lakh car Nano.
The year 2009 was one of the most challenging years for the Indian information technology (IT) services sector. Even as IT spends went down by almost 6-8 per cent globally, Indian IT companies had to grapple with the confession by Ramalinga Raju regarding a nearly Rs 8,000-crore fraud at Satyam Computer Services.
Anil Ambani group firm Reliance Infrastructure today said its consortium has bagged a project worth Rs 1,725 crore for building roads in Maharashtra from the National Highway Authority of India.
Electricity, a basic minimum service that any citizen should get or for that matter the industry for its development, witnessed severe fluctuations in progress in 2009 in terms of capacity addition.
The governments of Maharashtra, Gujarat and Andhra Pradesh have started talks with the Anil Dhirubhai Ambani Group (ADAG) for a possible relocation of the 8,000-Mw Dadri gas-based power plant from Uttar Pradesh.
HC quashes use of emergency power for land buys; ADAG firm says it’s a procedural issue.
India’s largest soap maker has implemented technology that resulted in significant carbon dioxide reduction in its manufacturing process.
Key benchmark indices surged as India’s economy expanded at higher than the expected rate of 7.9 per cent for October. Global markets gained after Dubai financial crisis fears receded. Indian markets opened strong at the start of the week, however, the week’s close saw some profit booking as worries mounted of a weaker-than-expected jobs report from the US.
Raghavendra Kamath / Mumbai October 21, 2009, 0:45 IST